It’s curious how everyone’s throwing liquidity into Scroll, yet this campaign has less than 4k participants.
(The 'hardest' one only has 1.84k)
With this campaign ending on 30th June, here’s how I completed all 3 tasks:
Pencils Protocol Overview
Pencils Protocol is a yield aggregator for Scroll with support for these assets:
Stablecoins
WBTC
ETH/LSTs/LRTs
They’ve launched a Galxe campaign, and I’m most keen on the 400k Scroll Marks prize pool.
This could be the reason why the participation count is so low:
You have to import your Galxe account’s linked wallet to Trust Wallet before verifying every task.
Here’s how I completed all 3 tasks:
Verifying as a Trust Wallet User
I completed the first task of each quest with these steps:
Import my seed phrase to Trust Wallet (I’m using a Ledger)
Connect Trust Wallet to Galxe
Verify the task
If you don’t use a Ledger, I’d recommend taking some extra precautions when transferring your seed phrase over.
I shared some best practices in my 5-day free Web3 security masterclass below:
Once that’s out of the way, we can complete the 3 on-chain tasks (which are rather straightforward):
Task #1: Staking STONE
I already had ETH on Scroll so I swapped to STONE directly with Jumper Exchange.
Before staking STONE on Pencils.
Alternatively, you could use this intents page to swap to STONE.
Task #2: Staking wrsETH
Similar to STONE, I swapped to wrsETH on Jumper and deposited it into Pencils.
Both of these tasks had 3k+ participants.
But the final task only has 1.6k because it’s slightly more complicated:
Task #3: Staking pufETH
When I completed these tasks, there was no liquidity for pufETH.
So I had to use these steps:
Stake ETH on the mainnet to stETH
Restake stETH to pufETH
Bridge pufETH from Ethereum to Scroll
This probably explains why there were fewer participants since we had to use the mainnet.
But I just checked Jumper again, and there seems to be liquidity for this swap now.
So it's much easier for you to complete it.
Either way, you could still take advantage of low gwei to build up your wallet's Ethereum on-chain footprint.
Apart from these transactions, I shared every Ethereum transaction I've done so far below:
How Much Should I Stake with Pencils?
My best answer is to stake how much you're comfortable with.
All 3 tasks can be verified with a small amount deposited into Pencils, which is what I did.
But since Pencils will be included in Session One of Scroll Marks, it could be a ‘lower-risk’ play to earn Marks.
Especially if you don’t want to add liquidity.
Another 'lower-risk' play is to deposit funds on Rho Markets (another lending-borrowing platform like Aave):
If you found value in this guide, feel free to use my referral links below:
Thanks for reading!
If you want more like this join my Discord server for more exclusive alpha.
